A digital start-up has set up shop in Brighton with an ambitious pledge to transform the insurance industry across the globe.

Guevara says it has found a whole new way to think about car insurance by providing a digital platform for groups to pool their premiums together online, with savings of up to 50 to 80 per cent.

The group can then use this money to pay for any claims the group makes throughout the year – and any money they don’t use stays with the group until it’s needed.

A similar system is used by large companies with fleets of vehicles, but Guevara’s platform makes it available to individuals for the first time.

Guevara identified Brighton as the ideal home for this new approach, with the highest density of digital companies in the UK – more than three times the national average – and the highest number of start-ups per capita outside of London.

Working from their Brighton office, the Guevara team will focus on finding the right groups and communities from across the city.

All other parts of the country are locked out of the site, so only Brighton residents can gain access and join.

Guevara was co-founded by Kim Miller, Paul Anderson, Mike Greer, Jonathan Petrides and Rich Philip.

Their careers span investment banking, entrepreneurship, brand consultancy, creative and digital marketing and asset management.

Rich Philip said: “The people of Brighton aren’t the same as everyone else. They don’t sit around and wait for change. They create it themselves.

“We’re seriously excited to set up in Brighton. We’ll be at events around the city all summer, meeting different communities and finding the perfect groups to join our platform.

“Brighton is famed for its collaborative attitude, but the strength of the digital scene is also massive for us. With the Digital Catapult Centre, Field BTN and the Brighton Digital Festival around the corner, it’s an exciting time for the city. We can’t wait to be a part of it.”

The business was inspired by Che Guevara because it aims to revolutionise car insurance.

Founder Kim Miller jokingly described it as “carmunism” as it put the people in charge, rather than the “fat cat” insurance bosses.

Guevara also has an app that is used to collect data from the scene of an accident and groups have a message board to discuss their claims and make decisions collaboratively.

To find out more information, visit heyguevara.com.